IRADIMED CORP Q2 Revenue Up 0.5%, Net Income Down 10%

By Tamara Parker • Friday, July 31 10:53 • Permanent Link

Iradimed Corp. said second-quarter revenue edged up to $20.5 million from $20.4 million a year earlier, a gain of $0.1 million, or 0.5%.

Net income fell to $5.2 million from $5.8 million in the same quarter last year, a decline of 10%. Diluted earnings per share slipped to $0.41 from $0.45, down 9%.

On a six-month basis, revenue rose to $42.4 million from $39.9 million, an increase of $2.5 million, or 6%. Net income increased to $11.0 million from $10.5 million, up 5%, while diluted EPS climbed to $0.86 from $0.82, also up 5%.

Gross margin narrowed in the quarter to 74% from 78%, and for the first half to 75% from 77%.

Cash flow from operations totaled $5.9 million in the quarter, down from $7.7 million a year ago, a drop of 23%. For the first half, operating cash flow improved to $14.2 million from $12.0 million, up 18%.

By product line, second-quarter MRI-compatible IV infusion pump systems revenue fell to $6.4 million from $8.2 million, while MRI-compatible patient vital signs monitoring systems revenue rose to $6.7 million from $5.9 million. Ferro-magnetic detection systems revenue increased to $756,000 from $482,000. Disposables climbed to $4.8 million from $4.2 million, amortization of extended maintenance agreements rose to $758,000 from $592,000, and services and other revenue increased to $1.1 million from $999,000.

For the first six months, IV infusion pump systems revenue slipped to $14.1 million from $14.2 million, while patient vital signs monitoring systems revenue increased to $13.8 million from $12.5 million. Ferro-magnetic detection systems revenue nearly doubled to $1.4 million from $900,000. Disposables rose to $9.7 million from $9.2 million, amortization of extended maintenance agreements increased to $1.4 million from $1.2 million, and services and other revenue ticked up to $2.1 million from $2.0 million.

Domestic sales accounted for 82% of revenue in both the quarter and first half, down from 89% and 86%, respectively, a year earlier.

The company declared a quarterly dividend of $0.20 per share, payable Aug. 28, 2026. It also guided third-quarter revenue to $23.0 million to $24.5 million and full-year revenue to $91.0 million to $96.0 million. Today the company's shares have moved -0.54% to a price of $94.70. Check out the company's full 8-K submission here.

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